PayPal News

PayPal Pays $2 Million Cybersecurity Settlement to New York Regulator

PayPal, Inc. will pay a $2 million penalty to New York State for violations of the state’s financial services industry cybersecurity regulation. The failures on December 2022 led to sensitive customer information, including social security numbers, being left unredacted and …

Asian American Venture Capitalist Accuses PayPal of Racial Bias in Minority Program

PayPal has been sued by an Asian American businesswoman who accused the digital payments company of racial bias for restricting part of a $535 million investment program to Black and Hispanic applicants, costing her millions of dollars. Thursday’s complaint by …

Regulators Disagree Over Giving Fintechs Federal Charter to Skirt State Rules

The U.S. Federal Reserve is wary of giving “fintech” firms such as OnDeck Capital Inc. or Kabbage Inc. access to the country’s financial infrastructure, putting the central bank at odds with other regulators looking to bring them into the fold. …

Cyber Surveillance Virus from Mideast Can Spy on Bank Transactions

A new cyber surveillance virus has been found in the Middle East that can spy on banking transactions and steal login information for social networking sites, email and instant messaging, according to a leading computer security firm, Kaspersky Lab. Dubbed …

U.S. Arrests 14 for Roles in PayPal Cyber Attack

U.S. authorities Tuesday arrested 16 people on charges they participated in major cyber attacks, including an attempt to cripple eBay’s PayPal web site as retribution for dropping Wiki Leaks as a client. FBI agents arrested 14 people in nine states …